Examlex
The virtual corporation does all its business online with partners considered a permanent part of the network.
Although it is possible for firms that are connected virtually to interact online,the term refers to the fact that the functional units of this type of corporation do not have permanent ties to any one corporation.The core firms hire other companies to partner with it on an as needed basis.
Balance Sheet
A financial statement that shows the company's assets, liabilities, and shareholders' equity at a specific point in time.
Asset
An economic resource owned or controlled by an individual or business, expected to provide future economic benefits.
Depreciation Expense
An accounting method of allocating the cost of a tangible or physical asset over its useful life.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value.
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